USDCNH (US Dollar - Chinese Yuan):
15 March 2018, Thursday, 3.20pm Singapore Time
(Click on Technical Chart above to Expand)
Attached above is the technicals for the USDCND.
USDCNH is preparing for a large move down, i.e. big wave down in USD is expected and big wave up in Chinese Renminbi (Chinese Yuan) is expected. The large bear pennant pole yielded a large bear pennant consolidation. The bear pennant is ready to yield the next wave of large bear pennant pole down. The move is consistent with the protectionist trade policies that Donald Trump is attempting to implement for the US. All illustrations are as on the technical chart.
The Donovan Norfolk Technical Rating on USDCNH:
Bearish
(Short)
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